Diamond Offshore Drilling, Inc., together with its subsidiaries, operates as an offshore oil and gas drilling contractor worldwide. It offers a range of services in various markets, including the deep water, harsh environment, conventional semisubmersible, and jack-up markets. As of December 31, 2006, the company operated a fleet of 44 offshore rigs, including 30 semisubmersibles, 13 jack-ups, and 1 drillship. Its customers primarily include oil and gas companies and government-owned oil companies. The company was founded in 1989 and is headquartered in Houston, Texas. Diamond Offshore Drilling, Inc. is a subsidiary of Loews Corporation.